US open: Futures fall as oil tops $100, inflation worries mount

9th Sep 2026 11:15

(Sharecast News) - Wall Street futures were in the red ahead of the opening bell on Wednesday after a weak session, with markets still grappling with another jump in oil prices and the inflation worries that come with it.

As of 1230 BST, Dow Jones futures were down 0.58%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.34% and 0.44%, respectively.

The Dow closed 628.18 points lower on Tuesday as the blue chip recorded its worst day in almost three weeks following a strong move higher in oil prices as Wall Street traders returned from the Labor Day break.

Crude extended its ascent prior to the open on Wednesday as tensions between the US and Iran raised the risk of further disruption to Middle East supply, with West Texas Intermediate for October 2.21% higher at $95.09 a barrel, while Brent was up 2.69% at $100.55 a barrel. The latest rise follows

Treasury yields also pushed up, with the benchmark 10‑year Treasury note nearly two basis points higher at 4.812%, as higher energy prices fed concerns that inflation could prove sticky - adding further pressure to equities.

On the macro front, mortgage applications decreased 2.7% in the week ended 4 September, according to the Mortgage Bankers Association, more than reversing the 0.8% increase seen a week earlier. The drop came as benchmark mortgage rates rose sharply, with the 30‑year fixed rate hitting a 15-month high of 6.58%, amid high energy prices, elevated debt supply, and widening deficits. Applications to refinance a mortgage, which are typically more sensitive to short‑term interest rate moves, fell by 6% week-on-week, while applications to purchase a home were broadly flat.

No major corporate earnings were slated for release on Wednesday.

Reporting by Iain Gilbert at Sharecast.com